For the 13-week period ended June 30, 2012:
Thomas Reinckens, Chairman and Chief Executive Officer, commented: “Our second quarter results included positive comparable store sales, ongoing strength in dresses, and a more than doubling of e-commerce sales. However, earnings were disappointing, driven by a weak response to our sportswear offerings. We have taken the appropriate actions necessary to clear seasonal inventory, which is expected to negatively impact margins in the third quarter.
“That said, we expect to continue our positive momentum in dresses and generate improvement in our sportswear sales, as we infuse a better balance of color and neutrals to our offerings. This coupled with our heightened focus on expense discipline that includes $1.8 million in expected annual savings will assist us in improving our performance.”
For the 26-week period ended June 30, 2012:
Gross profit for the second quarter of fiscal 2012 was $26.4 million, or 42.8% of net sales, compared to $27.5 million, or 45.7% of net sales, in the second quarter of fiscal 2011.
For the first six months of fiscal 2012, gross profit was $48.6 million, or 41.3% of net sales, compared to $49.4 million, or 44.0% of net sales in the first six months of fiscal 2011.
The decrease in gross margin for the second quarter and first six months of fiscal 2012 was primarily driven by an increase in markdowns and internet fulfillment and delivery expenses, partially offset by an increase in initial mark-up and a decline in occupancy costs as a percentage of net sales, as compared to the prior year.
| On 12th May 2021
While the global growth outlook has improved, led by robust rebound...
| On 12th May 2021
Millions of new remote and hybrid-remote workers, kids returning to...
Uzbekistan exported textile products worth $637.7 million to 54...
Indian apparel industry looks poised for slow death
Increased need for online fitting solutions as retailers shift to...
Verticals like fast fashion won’t completely adopt personalisation on...
With production sites in Klagenfurt and Kufstein, Zimmer Austria is a...
With the support of the first investors - Finland's Technical Research...
The Riri Group is a one-stop supplier of metal accessories for the luxury...
Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively
Functional Fabric Fair is a trade-exclusive event showcasing the latest...
With forces in engineering and process development, Andritz Nonwoven...
Alexium International is a specialty chemical development company...
Tahweave & Garo
Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...
Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...
Label Archana Jaju
<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.
Download Free Report
Rising Opportunities in Technical Textiles Market: 2020-2026
Thank you for showing interest in our free report on 'Rising Opportunities in Technical Textiles Market: 2020-2026'
You will receive an email shortly with a link to download the report and in case if you don't receive our email, you can write back to firstname.lastname@example.org.